When it comes to gold, additional exploration in South Africa’s Witwatersrand Gold Basin is not as needed as with other metals and minerals. The Wits Gold Basin has been so thoroughly explored that it’s more a question of going through bottom drawers to find shallow gold prospects. It’s good that Shallow Reefs Gold has arrived on the scene to show the way.
Currently, deep mining and surface dump mining dominate, with very little in between, even though Modder East found virgin reef and mined it profitably. Shallow Reefs Gold intends to change all that by tackling virgin gold not deeper than 1 200 m, of which there is an abundance. The Shallow Reefs Gold team is right to go all out to get it at a time of high gold price and weak currency.
These are encouraging tailwinds and the opportunity must be seized for the good of the South African people. South African retail investors need to step up to the plate and the Johannesburg Stock Exchange must promote itself more.